Trial now
AUSSIE 10-YEAR TECHS

(Z1) Shallow Bounce

USDCAD TECHS

Trend Needle Still Points North

WHITE HOUSE

Biden Losing Support On COVID-19 Strategy: Poll

AUDUSD TECHS

Slide Accelerates

LATAM

Snapshot: USDMXN Set To Post Highest 2021 Close

EURJPY TECHS

Still Looking For Weakness

AUSSIE BONDS
AUSSIE BONDS: AUCTION PREVIEW: The Australian Office of Financial Management
(AOFM) will today sell A$100mn of the 1.25% 21 August 2040 I/L Bond, issue
#CAIN413. The line was last sold on 10 July 2018 for A$150mn. The sale drew an
average yield of 0.9086%, at a high yield of 0.9200% and was covered 3.4466x.
There were 52 bidders, 23 of which were successful and 19 were allocated in
full. Amount allotted at highest yield as percentage of amount bid at that yield
was 8.8%.
- 20-Year break-evens have recovered sharply from their YtD/all-time low at
~0.40%, to last trade at 1.40%. This level is still suppressed in historical
terms.
- Westpac note that "while significant stimulus is being provided by global
policy makers, it is still too early to expect dramatically wider BEIs."
However, they do concede that "while on an outright basis real yields are very
expensive, they have been attracting some demand on a global relative basis,
especially further out the curve where real yields are still positive."
- Results due at 0200BST/1100AEST.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com